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The Discipline of Execution .pptx
- 1. The Disciplines of Execution Strategy Implementation
- 2. Strategy Implementation • Two important points in delivering results for corporate leadership 1. Strategic Plan 2. Execution of strategic plan Business schools mostly teach Strategy formulation but 60% of the time strategy fail because of poor execution
- 3. The Real Challenge • Strategy implementation falls in two categories • Stroke of the pen • Behavioral change
- 4. Strategy Implementation Stroke of the Pen • Capital Investment • Expansion of the staff • Strategic Acquisition Behavioral Change • Improved customer experience • Faster responsiveness • Higher quality • Consultative sales approach • Entering new arena
- 5. Obstacles in Strategy Implementation • Your every day job – The Whirlwind • Strategy – Not given importance • The whirlwind – It acts on you • Strategy – You have to act on it
- 6. Urgency VS. Strategy ( Goals) • The routine activities are urgent and takes most of the time • It might kill you today and if you don’t work on strategies it will eliminate you from tomorrow • You also have to concentrate on the future to survive • Ambidexterity in Strategic Management
- 7. 1.Focus on the most important • Narrowing your focus to a few highly important goals so you can achieve them in the midst of the whirlwind of the day job. • Your chances of achieving 2 or 3 goals with excellence are high, but the more goals you try to juggle at once, the less likely you will be to reach them. • Time frame should always be there.
- 8. 2. Act on the Lead Measures • Lag measures and lead measures Conventional thinking : keep your eye on the lag measures Net income Earning per share Customer satisfaction Lead measures: These are the high leverage actions you take to get the lag measures to move
- 9. Lead Measures • Predictive : measuring something that leads to the goal or strategy • Influenceable: Something we can influence Lead measures are like leverages which can moves rocks ( lag measure) How to select the right leverages: The mass of activity will be pointless, poorly conceived and largely irrelevant A small portion of activity will be terrifically effective
- 10. 3. Keep a compelling Score Card • The lag and lead measures won’t have much meaning to the team unless they can see the progress in real time. • Discipline 3 is the discipline of engagement. People perform best when they are emotionally engaged, and the highest level of engagement comes when people know whether they are winning or losing.
- 11. Discipline 3 • The scoreboard is for the whole team. To drive execution, you need A players’ scoreboard with a few simple graphs indicating where you need to be and where you are right now. • With a successful scoreboard, anyone looking at it can determine in five seconds or less whether the team is winning or losing.
- 12. 4: Create Accountability • One by one, team members answer a simple question, “What are the one or two most important things I can do this week that will have the biggest impact on the scoreboard?” • In the meeting, each team member reports first if they met last week’s commitments, second if the commitments move the lead or lag measures on the scoreboard, and finally which commitments they will make for the upcoming week.
- 13. 4 : Accountability • People are more likely to commit to their own ideas than to orders from above. When individuals commit to fellow team members instead of only to the boss, the commitment goes beyond professional job